HF 1050·IA·house
A bill for an act relating to the assessment of property containing certain aboveground storage tanks and including effective date and retroactive applicability provisions.
FailedFiled May 13, 2025
Sponsor: COMMITTEE ON WAYS AND MEANS
Latest Action
Subcommittee: Dawson, Bisignano, and Rowley. S.J. 841.
Apr 20, 2026
Summary
The bill changes Iowa law so that above‑ground storage tanks of 91,000 gallons or less are no longer taxed as real property, regardless of their use. It takes effect immediately and applies retroactively to tax years starting Jan. 1, 2025, and it removes the applicability of a funding rule for tax credits. Property owners with such tanks and local tax authorities are the primary parties affected.
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